Issue 05 December 2017 Ibec Europe & Global Focus Irish business showcases its substance as progresses and Europe looks to the future In this issue…

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Ibec Europe & Global Focus | Dec 2017 From the editor Ibec promotes substance of Irish business model as Brexit and Future Pat Ivory of Europe discussions Director of EU & International Affairs +353 1 605 1571 advance [email protected] As efforts were made to complete phase one of the negotiations, Ibec worked with partners in the UK and across Europe to reach agreement on business priorities and then communicate these to negotiators. Ibec also wrote to , and contacted Tanaiste and Minister of Foreign Affairs and other senior officials ahead of the October European Council emphasizing the urgent need for progress. As The Joint report feared, the Council concluded that sufficient progress had not yet been achieved on the provides progress three key items – citizens’ rights, the financial settlement and ‘Ireland’. In the negotiations that followed, the Taoiseach and the Tanaiste took a firm stance on the need to reach an on key areas agreement on the Irish issues. After further intensive talks, involving Ireland, the EU and the such as Good UK, negotiators published a joint report on 8 December paving the way for agreement on phase one at the December European Council. A key focus for 2018 will be holding the Friday Agreement, UK government to those commitments. Common Travel The joint report provides reciprocal protection for the rights of EU citizens living in Area and the the UK and UK citizens living in the EU, based on past life choices. It also provides a Irish border. methodology for the financial settlement for the UK exit, including a list of components, a set of principles for calculating the settlement and payment modalities. From an Irish perspective, important parts of the report include statements that (i) protect the in all its parts, (ii) allow the UK and Ireland to continue to make arrangements relating to the movement of persons between their territories (), and (iii) provide a written commitment on the UK guarantee of avoiding a hard border with the intention to achieve this through the overall EU-UK relationship, but if this is not possible then the UK will propose specific solutions to address the unique circumstances of the island of Ireland. In the absence of agreed solutions ‘the UK will maintain full alignment with those rules of the Internal market and the Customs union which, now or in the future, support North South cooperation, the all-island economy and the protection of the 1998 agreement.’ European Council President Donald Tusk immediately published draft guidelines for the second phase of the Brexit negotiations, which were subsequently tightened up to provide greater certainty following mixed messages from the UK’s interpretation of the Joint Report. An extremely important next step will be agreeing arrangements of a transition period - during which the UK should remain part of the Single Market and Customs Union. This is a key ask not only of Ibec but of business across the EU. The EU is ready to discuss this but is setting down some conditions which include the UK respecting EU law, budgetary commitments, judicial oversight and all the related obligations. The second phase will start discussions with the UK on the future relationship with the EU. This will be crucial to get right, especially for Irish business, given the potential impact on our trade and investment. Ibec will continue to advance Irish business priorities through maintaining close contact with EU Brexit taskforces and with the Irish Government and senior officials working on Brexit in Dublin and . The European Commission recently published its 2018 work programme, which effectively sets its priorities up to the end of its current mandate before a new Commission is established in summer 2019. The programme reflects the debate around the future

02 Ibec Europe & Global Focus | Dec 2017 of Europe – with the Commission providing a roadmap for deepening Economic and Monetary Union (EMU) for example. It also signals some significant challenges for business, including proposed changes on taxation for the digital economy. During its first EU presidency, Bulgaria will oversee proposals due in May 2018 on the next Multiannual Financial Framework (MFF) for the period beginning 2020. As a significant beneficiary, Bulgaria will prioritise the protection of cohesion funds. One challenge for Ireland will be to protect funding for the Common Agricultural Policy while increasing funding for EU research and development. Commissioner Hogan’s recently launched White Paper on the future of food and farming is profiled in this edition. We also provide an analysis highlighting the resource challenge that the loss of the UK contribution will pose for the EU27 and how the EU budget is spent in Ireland. Minister for European The European Affairs Helen McEntee met with Ibec members at a special roundtable session on the Commission’s Future of Europe in mid-November. We will continue to work with the Minister and her officials as the debate develops at EU level in 2018 taking every opportunity to explain Work Programme and advance our priorities. for 2018 reflects Ibec President Edel Creely travelled to Tallinn, Estonia to participate in the Business the future of Europe Council of Presidents in December. She presented Ibec’s position on Brexit and commented on the strength of the Irish economy and rising employment figures. The Europe debate. Council also discussed the EU’s role in global trade. The EU-Japan free trade agreement is finalised and hailed by the Commission as the biggest trade deal they have ever negotiated. However, EU talks with Japan will continue on data flows and investment protection. The Commission has an ambitious trade agenda seeking to complete the EU- Mercosur FTA and to begin negotiations with Australia and New Zealand. A recent Ibec workshop for members on trading with third countries, with presentation from the Revenue Commissioners and Department of Agriculture and Food, was very well attended. In December we also launched our latest campaign ‘Ireland: A Model of Substance’ in Brussels at our end-of-year festive event. We welcomed over 100 guests to hear Ibec President Edel Creely and CEO Danny McCoy present the transformational story of the Irish business model, which is based on what the OECD term ‘substance’. We appreciated hearing insights from MEP who addressed the gathering. Ibec also held meetings with the heads of cabinet of Vice-President Katainen and Commissioners Vestager and Hogan to explain our campaign to better communicate the fundamentals of the Irish business model. We asked them to champion Ireland’s success as an example of what a dynamic EU member state can achieve, and contribute, to the EU, from openness to trade and investment. On behalf of our EU & International Affairs team, in both Dublin and Brussels, I would like to wish all our valued members and stakeholders a relaxing festive season and all the best for the coming year. We look forward to working with you again in 2018.

Shane Lyster Kathryn Doreen Burke Eoghan Kinirons Andra Bodoni O’Donovan Senior Executive for Junior EU Affairs EU Policy Officer Office & Events European Affairs Trade Policy & Executive Manager International Affairs +32 2 740 1436 +32 2 740 1432 +32 2 740 1434 +32 2 740 1430 Executive [email protected] [email protected] +353 1 605 1557 [email protected] [email protected]

[email protected]

Ibec Europe & Global Focus | Dec 2017 03 Brexit and the future of EU-UK relations Relief in Dublin and throughout Europe as last-minute negotiations find agreement on Ireland called on first phase of the UK’s the UK to ensure that there would withdrawal be no hard border post-Brexit and With early November’s sixth cycle of UK negotiations ending with little progress, Ireland called on the UK to ensure that there would be no hard border post-Brexit that the Good and that the Good Friday Agreement would be protected in its entirety. Some in the Friday Agreement UK saw this as provocative behaviour and grandstanding, but the reality was that the would be protected Irish Government’s position had remained the same since negotiations first started. in its entirety. In a significant show of political support for Ireland’s position, European Council President Donald Tusk arrived in Dublin on 1 December to “…reassure the Taoiseach and all the that the EU is fully behind you and your request that there should be no hard border on the island of Ireland after Brexit. The Irish request is the EU’s request.” Tusk used the Irish proverb “Ni neart go cur le cheile” (there is no strength without ) to highlight the solidarity among the EU27 in negotiations with the UK. President Tusk reaffirmed that the onus fell on the UK to come up with workable proposals for the issue and stated that “Before proposing guidelines on transition and future relations to the leaders, I will consult the Taoiseach if the UK offer is sufficient for the Irish government. Let me say very clearly: If the UK offer is unacceptable for Ireland, it will also be unacceptable for the EU… This is why the key to the UK’s future lies – in some ways – in Dublin, at least as long as Brexit negotiations continue.” As the clock continued to tick, British Prime Minister Theresa May travelled to Brussels on 4 December for more crunch talks with European Commission President Jean-Claude Juncker. It was reported that a deal was ready to be agreed until the Democratic Unionist Party, the Conservatives’ partner in a confidence and supply arrangement in the UK Parliament, contested the language chosen to frame the Ireland-Northern Ireland border issue and the draft text was dramatically withdrawn at the final hour.

04 Ibec Europe & Global Focus | Dec 2017 Brexit and the future of EU-UK relations

Following three hectic days of last minute talks between all sides, not least between May and her DUP allies, European business awoke on Friday, 8 December, to the news that the Prime Minister was back in Brussels and had signed a deal with President Juncker. The agreement, contained in a Joint Report from both sides of the negotiating table, outlines arrangements for post-Brexit citizens’ rights, the UK’s financial obligation and the Northern Ireland border issue, paving the way for the Commission to recommend to the EU27 member states that the previously elusive “sufficient progress” had finally been achieved. Ibec reacted quickly, publicly welcoming the agreement’s express commitments to the island of Ireland and the functioning of the all-island economy. The assurance that there is to be no hard border, no change to the Common Travel Area and the promise of specific measures to allow EU-bound Irish goods transit smoothly through the UK post-Brexit are all highly positive developments. That said, the agreement must now inform the next stage of negotiations and must ultimately deliver the closest possible future relationship for business and society. As was expected, EU leaders gave their support to the agreement at the final European Council summit of the year on 14 and 15 December, allowing the negotiations to progress to the second phase - that of transition arrangements and the future economic relationship. As always, to access our latest material and press statements on Brexit, visit our dedicated Brexit portal via this link. There you will also find the latest version of our Brexit tracker which goes through a broad range of key issues for business and updates you on progress of the negotiations. Click here to download our latest Brexit tracker.

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Ibec Europe & Global Focus | Dec 2017 05 Outlook for Europe European Commission publishes its Work Programme for 2018

Following European Commission President Jean-Claude Juncker’s September State of the EU Address, the European Commission published its 2018 Work Programme The European defining its policy priorities and legislative commitments for the year ahead and indeed Commission to the end of its current mandate in summer 2019. The ten priorities contain several more specific initiatives over a number of horizontal published its 2018 policy areas: Work Programme defining its 1. A New Boost for Jobs, Growth and Investment policy priorities • Delivering on the Circular Economy Action Plan and legislative commitments for 2. A Connected Digital Single Market the year ahead. • Completing the Digital Single Market

3. A Resilient Energy Union with a Forward-Looking Climate Change Policy • Completing the Energy Union • Future of EU energy and climate policy

4. A Deeper and Fairer Internal Market with a Strengthened Industrial Base • Fair taxation in the digital economy • Social fairness package • EU food supply chain • Completing the Capital Markets Union • More efficient Single Market law-making

06 Ibec Europe & Global Focus | Oct 2017 Outlook for Europe 5. A Deeper and Fairer Economic and Monetary Union • Completing the Economic and Monetary Union • Completing the Banking Union • Creation of a permanent and accountable European Minister of Economy and Finance

6. Trade: A balanced and progressive trade policy to harness globalisation • Delivering on the Trade for All Strategy

7. An Area of Justice and Fundamental Rights Based on Mutual Trust • Completing the Security Union As we continue • EU Civil Protection Mechanism to work on our • Extension of the tasks of the new European Public Prosecutor’s Office own vision for • Rule of Law initiative the future of the EU, Ibec Europe 8. Towards a New Policy on Migration will continue • Delivering on the EU Agenda on Migration to monitor 9. A Stronger Global Actor progress of the • Delivering on the Global Strategy Commission’s • A credible enlargement perspective work programme. • More efficiency and consistency in implementing the Common Foreign Policy

10. A Union of Democratic Change • Communicating Europe • Doing less more efficiently • A more efficient and democratic Europe

Mirroring as they do a number of our own priorities – specifically the completion of the digital single market, the capital markets union, the banking union and enhancing efficiencies in the wider single market, Ibec warmly welcomes many of these initiatives and encourages the Commission to actively focus on those areas in which it can add real value, affording business the right conditions to grow investment and employment and to contribute to a prosperous European economy now, and in the future. As we continue to work on our own vision for the future of the EU, Ibec Europe will continue to monitor progress of the Commission’s work programme. Get in touch at any time for a further discussion at [email protected]

Ibec Europe & Global Focus | Dec 2017 07 Outlook for Europe Bulgaria prepares to assume its first Presidency of the Council of the EU

The European Presidency will move south-eastwards this January with Bulgaria taking over from Estonia as agenda-setter and chair of the European Council for the first half of 2018. The Bulgarian Presidency comes just ten years after the country joined the Bulgaria takes EU and at a pivotal time in the context of the EU-UK negotiations and debates about over from Estonia the future of Europe and the renewal of the Multiannual Financial Framework. as agenda-setter The Bulgarian Presidency has adopted the motto “United We Stand Strong”, developed in conjunction with NGOs and civil society partners in the country, reflecting Bulgaria’s and chair of the history and statehood and the concept of unity and solidary throughout Europe. In line European Council with previous presidencies, Bulgaria has prioritised four key areas which will frame its for the first half mandate over the next six months: of 2018. 1. The future of Europe and specifically its younger generations, with a focus on economic growth, skills and social cohesion; 2. European perspective and connectivity in the Western Balkans; 3. Security and stability in a strong and united Europe; 4. Digital economy and skills for the future.

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A key element throughout Bulgaria’s Presidency will be its focus on the Western Balkans. Bulgaria intends to stimulate motivation across the EU and its institutions to work closely with the region to bolster stability, good governance and democracy. There will also be a focus on enhancing regional interconnectivity and collaboration in the areas of energy, transport, digital economy and education. A key element Mirroring the debate on the future of the Multiannual Financial Framework (MFF) and throughout the ‘ceilings’ under which the EU will frame its policy objectives for the following seven years, cohesion policy is also another essential element of Bulgaria’s agenda. As a Bulgaria’s significant beneficiary of these funds, Bulgaria is expected to prioritise the protection Presidency will be of cohesion funding in the next MFF programme. Similarly, Bulgaria will likely work its focus on the to ensure that the loss of the UK’s contribution to the EU budget does not impact funding for future regional policy initiatives. Western Balkans. So far, Bulgaria has not been particularly vocal on Brexit. Speaking at a recent briefing in Brussels, Monika Panayotova, Deputy Minister for the Bulgarian Presidency of the Council of the EU, told an audience that the mandate for Brexit negotiations remains with ’s Taskforce within the European Commission but that her Government will work to ensure continued unity among the EU27 as talks turn to the future relationship between the EU and the UK. Ibec looks forward to working closely with our Bulgarian counterparts – the Bulgarian Industry Association and the Union of Bulgarian Business – and the Bulgarian Government in supporting the realisation of the country’s priorities. Bulgaria will hold the Presidency until 30 June 2018, at which point Austria will take leadership for the second half of 2018.

Ibec Europe & Global Focus | Dec 2017 09 Outlook for Europe Commissioner Hogan launches White Paper on Future of Food and Farming

The paper In keeping with the series of European Commission white papers released this year, comes after the European Commissioner for Agriculture and Rural Development, , has published a white paper entitled The Future of Food and Farming. Commission’s The paper comes after the Commission’s public consultation on the future of the public consultation Common Agricultural Policy (CAP). The consultation found that respondents believed on the future of in the value CAP adds to European societies, and that they want to ensure the the Common future of a strong funding to European agriculture and rural communities. However, stakeholders also expressed that CAP did not fully meet current social, economic and Agricultural Policy environmental challenges and believed that the framework should be more simple (CAP). and flexible. On delivering a CAP which is more socially, economically and environmentally conscious, the white paper outlines that the EU should continue to set the basic objectives and requirements of CAP, but should allow member states greater flexibility in choosing how and where they invest their CAP funding. This would mean that member states have a greater say in designing compliance and control frameworks and can take decisions based on the local nuances and targets, with the EU continuing to set the basic parameters. This would be achieved through the creation of a CAP Strategic Plan covering both Pillar I and Pillar II of the programme, ie for both direct payments to farmers and in rural development policy. Under the plan, member states would determine the best way to spend their funding while the Commission would assess and approve plans ensuring the maintenance of a common approach to delivery of results.

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The paper emphasises the continued importance of the direct payments system to farmers which contributes to 46% of the income of the EU farming community. However, the paper also addresses accusations of unfairness made about the direct payments system whereby 20% of European farmers receive 80% of payments. The paper calls for a more balanced distribution to payments to ensure that small and medium-sized farmers also get their fair share of funding. Other areas of streamlining the direct payment element of CAP outlined in the paper include: • Compulsory capping of direct payments taking labour into account so as to avoid negative effects on jobs; • Degressive payments could be introduced as well, as a way of reducing the support for larger farms; • Enhanced focus on a redistributive payment in order to provide support in a targeted manner eg to small-medium sized farms; • Ensure support is targeted to genuine farmers, focusing on those who are actively farming in order to earn their living.

In Ireland, direct payments to farmers make up 59.3% of total EU spending in the country, and so any change in the framework of payment could have a big effect both on individual farmers and related industries. Although not directly mentioned in this white paper, the debate on the future of CAP will also play a part in determining the next MFF, particularly around the issue of making up the UK’s contribution to the budget. For the full version of the white paper click here. Ibec Europe will continue to monitor this debate and engage with the relevant personnel at the Irish Permanent Representation to the EU and European Commission. If the future of CAP is of relevance to you and your business, please do not hesitate to get in touch.

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Ibec Europe & Global Focus | Dec 2017 11 Outlook for Europe Talks continue to form new German Government

At the time of writing, hope for a new German government was on the rise as initial coalition talks between caretaker Chancellor ’s Christian Democrats (CDU) and Martin Schulz’s Social Democrats (SPD) continue. Hopes for a As recently as 19 November, after the collapse of exploratory coalition negotiations between the CDU, their Bavarian sister-party the Christian Social Union (CSU), the new German liberal Free Democrats (FDP) and the Greens, it appeared as though Germany might government be headed towards another general election, delaying the formation of a government rise as coalition until June 2018 at the earliest. talks take place Urged on by German President Frank-Walter Steinmeier, Merkel and Schulz tentatively between caretaker discussed reforming the ‘grand coalition’, this time to be known as ‘Gro.Ko 3.0’, a play on the German phrase große Koalition. Much was made of this significant Chancellor Angela change in strategy for Schulz as he had previously announced that the SPD would Merkel and leader not consider entering coalition and would instead focus on regrouping in opposition. of the Social However, Gro Ko 3.0 remains far from assured. Both sides do not fully trust one Democrats another and are quite far apart on certain issues. The most important of these may well be European policy, with Schulz declaring that “an about face” was needed from Martin Schulz. Merkel on the issue if coalition talks are to be a success. Schulz added fuel to the fire when, at the annual SPD party conference on 7 December, he declared that he wanted to see a ‘United States of Europe’ by 2025. Most commentators considered this to be merely rhetoric, used to highlight his interest in European reform. The conference also saw Schulz receive the support of his party members to enter exploratory talks with the CDU.

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Chancellor Merkel also seems to believe that Schulz was perhaps only posturing, as afterwards she stated that she could see potential for finding common ground. However, she added that she would not shy away from exchanging “some words” with him on Germany’s position within the future of Europe debate. An alternative to Gro Ko 3.0 was proposed by Schulz on 12 December. He put forward the idea of a ‘cooperation coalition’, which would see the SPD support the government on certain key policy issues and priorities, but would mean that the SPD would not reprise its role as the junior partner in another ‘grand coalition’. This so- called ‘Ko Ko’ method of forming a government appeals to factions in the SPD who want greater freedom to oppose certain CDU policies. It is unclear as to whether Merkel would support such a development. Meanwhile, the view from Brussels is that a strong and stable German government is a pre-requisite for major European reform, with European Commission President Jean-Claude Juncker and French President Emmanuel Macron particularly keen on the CDU and the SPD forming a new government as soon as possible in order to provide support for some of their reform proposals.

Ibec Europe & Global Focus | Dec 2017 13 Outlook for Europe Dublin disappointed as Paris and Amsterdam prepare to welcome relocated EU agencies

There was disappointment for Dublin on 20 November, as the final decision on the new host cities of the two UK-based EU agencies was determined. In preparation for their relocation from London, Dublin had originally submitted a bid for both the European Medicines Agency and the European Banking Authority. However, as voting preferences among member states became clearer, Dublin formally withdrew its candidacy for the more lucrative European Medicines Agency, with the Government There was instead concentrating its last-minute pitch and lobbying activities on winning the right to disappointment host the smaller European Banking Authority – the EU’s banking regulator. for Dublin on 20 As one of seven EBA candidate cities, the European Commission’s earlier technical November, as the assessment of Dublin’s bid had highlighted the Irish Government’s offer of considerable financial support with a commitment to paying 50% of the chosen building’s rental final decision on costs over a 10-year period, amounting to a sum of some €13.5 million. However, the new host cities Dublin’s suitability as a new home for the EBA fell somewhat short with regards to of the two UK- the availability of international schooling places for children of the EBA’s 160 staff members. There were also concerns expressed about the desirability and suitability based EU agencies of the building being offered, in addition to questions over hotel bed night availability was determined. and Dublin’s global transport connectivity. The Slovak capital, Bratislava, was an early favourite for the EMA given the strong preference among some member states for a fairer and more balanced geographic spread of the EU’s network of agencies. However, the secret vote ended in a close tie-break between Amsterdam and Milan, with the Dutch bid ultimately winning out after final lots were drawn. In the EBA voting process, Dublin eased through to the second round where it faced heavyweights Paris and Frankfurt. In the third and final round, Frankfurt was eliminated, and Dublin and Paris ended on 13 points apiece in a nail biting tie. Another random draw saw Paris emerge victorious. As was expected to be the case, politics arguably played a greater role than pragmatism in deciding the agencies’ new home cities. While the Commission’s assessments were not binding, nor were the bids ranked, they certainly also played a role. Behind-the-scenes manoeuvring proved equally important in the secret ballots. That said, the fact that Dublin advanced to the final round, beating off stiff competition from financial capital Frankfurt and drawing equal to alpha city Paris, should be read as a highly significant vote of confidence in Ireland’s reputation and our ability to host an international regulatory body of the EBA’s magnitude and calibre.

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EU Budget 2018

EU institutions EU institutions have reached a compromise on setting the EU budget for 2018. The process of defining the annual budget started in May 2017 with the Commission have reached a proposing a spend of €160.6bn in the coming year. This was then debated by compromise on Parliament and Council, with the Parliament pushing for a higher spend than the figure setting the EU proposed by the Commission, and the Council advocating for less money. The outcome of negotiations saw the institutions compromise to a budget of €160.1bn for the 2018 budget for 2018. EU budget and on 30 November the Council adopted the budget.

The focus on spend for the upcoming year is on stimulating the creation of jobs, especially for young people, to boost growth, strategic investments and convergence. The budget also sees money ear-marked to deal with the migration crisis, including setting money aside to renew the Turkey deal on migration, however some MEPs have said that national governments will have to increase contributions if this is to be fully implemented. However, this budget also sees a cut of €105m in pre-accession funding for Turkey in light of the current situation in the country as regards democracy, rule of law, human rights and press freedom.

Ibec Europe & Global Focus | Dec 2017 15 Economy and finance

MFF post-2020

The future framework on spending and budgeting is another hot topic currently up for debate across the EU. The Multiannual Financial Framework (MFF), which is the EU’s The Multiannual long-term spending plan, sets down the annual amounts ‘ceilings’ the EU may dedicate to certain policy areas or ‘headings’. The current MFF covers a period of seven years, Financial from 2014-2020. Preparation has already begun to define the policy priorities of the MFF Framework (MFF), post-2020, with the Commission due to make their proposal in May 2018. which is the The MFF is an essential tool of the EU in achieving its policy goals, with the MFF post- EU’s long-term 2020 coming at a particularly important juncture in EU history given the UK’s impending exit from the Union. This means that the EU will have to take the decision to either spending plan, increase contributions to the budget or cut expenditure. sets down the annual amounts ‘ceilings’ the EU may dedicate to certain How is the EU funded? policy areas or The EU budget is primarily funded by its ‘own resources’ (98%), which in ‘headings’. turn can be grouped in three categories: 1) Traditional own resources Comes mainly from customs duties on imports from outside the EU and sugar levies.

2) Own resources from VAT A standard percentage of harmonised VAT comes from the base of each EU country.

3) Own resources based on GNI A uniform percentage is levied on the GNI of each EU country. It is used to balance revenue and expenditure, i.e. to fund the part of the budget not covered by other sources of income.

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In 2016, Ireland contributed €2.13bn to the EU budget and received €2.04bn, making it a net contributor to the budget. The below pie chart demonstrates how EU funds in Ireland are spent, with a large chunk going towards CAP payments in the form of direct subsidies to our farmers.

How the EU budget in Ireland is spent

2% 2%

Smart and inclusive growth 16%

Sustainable growth: natural resources

Security and citizenship

80% Administration

Agricultural and cohesion policy are the two biggest areas of expenditure within the EU budget, and the EU’s main traditional areas of expenditure. However, given the EU’s changing priorities, it is likely that other policy areas will receive more weighting in the next MFF to reflect the Commission’s new priorities, particularly those in the areas of security and migration. Ibec Europe has been meeting with officials at the Irish Permanent Representation to the EU and is taking part at BusinessEurope level in a working group on the MFF. We will continue to monitor debate on this at EU and national level over the coming months and in the run-up to the Commission proposal in May 2018. As always, we are happy to hear your views on this topic. If you would like to contribute to the discussion, contact us at [email protected]

Ibec Europe & Global Focus | Dec 2017 17 Economy and finance European Commission Roadmap for Deepening Europe’s Economic and Monetary Union

The Roadmap The latest in a swathe of forward-looking documents published by the Commission this year came on 6 December with the Roadmap for Deepening Europe’s Economic contains a and Monetary Union. The Roadmap contains a package of reforms presenting package several proposals and initiatives based on Juncker’s State of the EU address and the of reforms Council’s Leaders’ Agenda. presenting several proposals and initiatives Proposals included in the package: based on • A proposal for the establishment of a European Monetary Fund Juncker’s State of anchored in the Union legal framework; the Union address • A proposal to integrate the substance of the Treaty on Stability, and the Council’s Coordination and Governance into the Union legal framework, taking Leaders Agenda. into account the appropriate flexibility built into the Stability and Growth Pact and identified by the Commission since January 2015; • A Communication on new budgetary instruments for a stable euro area within the Union framework; • For the period 2018-2020, (1) targeted changes in the Common Provisions Regulation to mobilise EU funds in support of national reforms and (2) a proposal to strengthen the Structural Reform Support Programme; • A Communication on a European Minister of Economy and Finance.

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The proposal marks a tangible step in the Commission fulfilling the aspirations put forward by President Juncker in his September State of the EU address. The suite of papers which make up the framework outlines the Commission’s view of what steps should be taken in the coming years for achieving these reform priorities while taking advantage of the robust economic recovery the EU is currently experiencing. Those timeframes are as follows:

2018

• Adoption of all remaining proposals on Banking Union, including risk reduction, the European Deposit Insurance Scheme and a common backstop for the Single Resolution Fund; • Commission proposal for an enabling framework for European Sovereign Bond- backed securities for the euro area; • Adoption of the proposal to reinforce the Structural Reform Support programme and changes to the Common Provisions Regulation; • Commission proposal for MFF post-2020; • Discussion on legislative proposals of the European Monetary Fund, external representation of euro area, incorporation of fiscal compact into EU law; • Discussion at political level on European Minister of Economy and Finance.

By mid-2019

• Fully functional backstop to the Single Resolution Fund; • Implementation of the European Deposit Insurance Scheme; • Finalising all pending legislative initiatives for the Capital Markets Union; • Adoption of the post-2020 proposals for structural reform support; • Adoption of the post-2020 proposal on a dedicated convergence facility for non-euro Member States.

By mid-2019 the report proposes to finalise and implement much of the above and to have a common understanding on the European Minister of Economy and Finance. Between 2019-2025 “possible further steps” include having a fully functioning European Minister of Economy and Finance as chair of the Eurogroup and VP of the Commission.

Ibec Europe & Global Focus | Dec 2017 19 Economy and finance Eurogroup appoints new Chair

The EU’s informal grouping of finance ministers of Eurozone countries met on 4 December. As well as preparing for December’s Economic and Financial Affairs Council (ECOFIN), the group also elected a successor to current Eurozone president Jeroen Dijsselbloem, who will reach the end of his term in January next. Dijsselbloem, who lost his ministerial post in March’s general election in the Netherlands, will be replaced by Portugal’s serving Finance Minister, Mário Centeno, a former senior economist at Portugal’s Central Bank. Four nominees contested the race – Latvia’s Dana Reiznice-Ozola from the Green and Farmer’s Party, Luxembourg’s liberal candidate Pierre Gramegna, and a last-minute nomination of Slovakia’s Socialist Minister Peter Kazimír. Mário Centeno was the favourite from the outset, and early on received the backing of Angela Merkel and Jean- Claude Juncker. His election to the position represents a clear shift away from austerity politics in the Eurozone given that Portugal is a post-bailout economy. He is also the first leader of the Eurogroup to come from a southern European country, which could shift the trajectory away from German-centric finance policies within the EU, especially given the current political climate in that country. Mr Centeno has promised to use his two- and-a-half-year term to work towards garnering consensus and unity between Europe’s political and geographical families. We look forward to following Eurogroup activity in 2018 and beyond, especially given the ongoing debate surrounding the MFF post-2020.

Mário Centeno, Finance Minister of Portugal and Chair of the Eurogroup

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Council agrees next steps in digital taxation

Meanwhile, December also saw agreement among the EU’s finance ministers to input into discussions at an international level in relation to the taxation of profits in the digital economy. The conclusions, adopted by the ECOFIN Council on 5 December, will act as a framework for further EU work on taxation issues with respect to the digital economy. This is relevant due to the rapid development of the digital economy and how it can be seen to pose a challenge to existing forms of international taxation. In summary, the Council conclusions highlight the need for a global policy response on this issue, something An open letter from which should be agreed with other international Ibec to the OECD partners. In particular, the conclusions call for close cooperation with the OECD with a proposal to explore a ‘virtual permanent establishment’ with the intergovernmental economic organisation. The OECD is currently conducting an analysis of business models of the digital economy and is preparing an interim report to the G20, scheduled for April 2018. Mr Angel Gurría Secretary General of the OECD OECD Headquarters 2, rue André Pascal In October, Ibec CEO Danny McCoy penned an open 75775 Paris Cedex 16 France letter to Mr Angel Gurría, Secretary General of the 12 October 2017 OECD congratulating the organisation on their work

Subject: Ireland, the OECD and benefi and commitment in promoting multilateralism in the ts of globalisation Dear Mr Gurría, international tax agenda.

As you will be aware, Ireland is once again one of the fastest growing economies in the OECD and with a business model of substance is an example of the great benefi I would like to recognise the incredible work and commitment of the OECD in recent years to promote multilateralism, particularly through the tax reform agenda of the ciaries Base ofErosion globalisation. Profi With this backdrop,

The benefi ts to small open economies from the OECD’s work to promote a global system t Shifting remains project. a compelling story in a world which is increasingly sceptical of globalisation. Ibec, representing Irish business, recognises the vital need to modernise global tax rules and supports the leadership role the OECD has and must continue to play in this process.

As technology and the global economy rapidly evolves, Ibec, along with European business, supports governments and businesses working together at a global level to ensure that the international tax system remains fi t for purpose. For our part, we will continue to actively engage in the development of the global corporate tax system which promotes fairness, substance and openness, while also allowing individual countries to chart their own economic path.

Yours sincerely

Danny McCoy CEO Ibec

To learn more, visit www.ibec.ie/irishsubstance

Ibec Europe & Global Focus | Dec 2017 21 Internal market Final Competitiveness Council (COMPET) of the year sees Ministers agree

As part of its work on further measures to programme for the complete the single market. year ahead, the

Commission is now • The EU’s enterprise ministers came together for the final time this year on 30 expected to present November and 1 December, where they agreed a joint position on the Single initiatives in Spring Digital Gateway. Long supported by Ibec, the SDG integrates a number of 2018. existing mechanisms into one centralised online portal or “one-stop shop” providing information, guidance, problem-solving tools and streamlined procedures to companies (and consumers) wishing to exercise their rights and engage in the opportunities provided by EU mobility and the single market; • Ministers also voiced their support for a comprehensive industrial policy strategy for the EU with a focus on 2030 and beyond. As part of its work programme for the year ahead, the Commission is now expected to present initiatives in Spring 2018; • Finally, research and innovation also featured on the programme with the Council adopting conclusions on the successor to the current Horizon 2020 programme and the EU’s capacity in increasing innovation. This is a positive development as we look to the new term of the EU legislature in 2019 and the future of research and innovation projects in the EU going forward. As always, members’ questions about COMPET-related files should be addressed to Shane Lyster at [email protected]

Your Europe Business

The European Commission has recently launched a new online portal aimed at helping Small and Medium-sized Enterprises do business in the single market. The portal provides entrepreneurs with practical information on a wide variety of issues facing businesses operating in a cross-border capacity including taxation, product requirements, finance and funding and more. You can check out this new, easy-to-use portal on the Your Europe Business homepage.

22 Ibec Europe & Global Focus | Dec 2017 SocialOutlook and labour policy Europe’s business community voices concern over Commission’s plan to revise the Written Statement Directive

Ibec has Ibec has joined with BusinessEurope in communicating its concerns regarding the European Commission’s recent proposal to revise the Written Statement Directive. joined with In response to a second-phase consultation on a possible revision of the Directive, BusinessEurope the Commission’s proposals include a number of options for rewriting the Directive, in communicating including the following: its concerns • extending the coverage to specific categories of workers; regarding the • modifying the items of information to be provided to employees; European • modifying the means of redress; Commission’s • shortening the deadline by which the information must be provided; recent proposal to revise the • introducing a floor of minimum rights. Written Statement Directive. BusinessEurope has stressed to the Commission that the nature and purpose of the Written Statement Directive is to inform employees about their working conditions at the beginning of the employment contract or relationship. Any proposal to revise the Directive must, therefore, ensure that this nature and purpose are respected. In this regard, the proposal to introduce minimum rights would completely change the character of the Directive. Ibec is particularly concerned by the proposal to extend the coverage of the Directive to certain categories of workers including so-called “platform workers”. Under no circumstances should self-employed workers be covered by the Directive and we are concerned that the vague reference to “platform workers” would risk reclassifying genuinely self-employed individuals as employees. Rather than revising the Written Statement Directive in the manner proposed, Ibec contends that the European Commission’s focus should be on providing a suitable legislative environment to stimulate recruitment in different forms of employment and ensuring that companies have the flexibility required to adapt to transforming business and consumer needs.

Ibec Europe & Global Focus | Dec 2017 23 SocialOutlook and labour policy

Our concerns over the Written Statement Directive come after a very disappointing outcome in Council to the revision of the Posting of Workers Directive. Meeting on 23 October, Europe’s social affairs ministers agreed a number of unwelcome compromises: BusinessEurope • Remuneration of posted workers should be in accordance with the law and has stressed to practices of the host member state; the Commission • The duration of the posting should be limited to 12 months, which can be extended by 6 months (18 months in total) on the basis of a motivated that the nature notification by the service provider (after this period rules on long-term posting and purpose will apply); of the Written • Universally applicable collective agreements should apply to posted workers Statement across all sectors; Directive is • Temporary agency workers should be treated equally to local employees; to inform • As regards the highly contentious transport sector, the provisions of the employees about amending directive will apply from the date of entry into force of the forthcoming their working Mobility Package. conditions at the beginning of Given that these compromises will harm free movement principles, impact high-value business activities across Europe and significantly undermine the functioning of the the employment single market in services, Ibec will continue to support BusinessEurope’s advocacy contract or work to ensure a more pragmatic resolution to trilogue negotiations (the final part relationship. of the legislative process involving the Council, the and the European Commission). We are particularly focused on maintaining the duration of postings at 24 months in accordance with the European Parliament’s final position.

24 Ibec Europe & Global Focus | Dec 2017 Global trade

World Trade

The 11th Organisation Ministerial The 11th Ministerial Conference of the World Trade Organisation (WTO) took place on Conference of 10 - 13 December in Buenos Aires, Argentina. In advance of the meeting, Ibec and the World Trade European business partners called on WTO members to reach an ambitious outcome Organisation that would reinforce the WTO as an organisation and pave the way for further liberalisation of trade in an inclusive manner. Ibec believes that protectionism offers no solutions to took place on the challenges faced by our societies and economies today. The negotiating pillar of the 10 - 13 WTO must be revitalised for the benefit of all members. December in Buenos Aires, Argentina. NAFTA renegotiation

The US, Canada and Mexico have held several formal and informal rounds of talks to renegotiate the North American Free Trade Agreement (NAFTA). NAFTA, in force since 1994, created a tariff free trade area between the three states. US President Donald Trump has threatened to withdraw from the agreement. Controversial topics in the renegotiation include agriculture, dispute settlement, investment and government procurement. Talks will continue into 2018, though negotiators originally aimed to conclude this year. By renegotiating NAFTA, the US aims to reduce its trade deficit with Canada and Mexico. Canada and Mexico are broadly against the reintroduction of tariffs and the rewriting of NAFTA’s rules of origin.

Ibec Europe & Global Focus | Dec 2017 25 Global trade

Update on the EU’s trade agreements

On 8 December, Japan the EU-Japan On 8 December, the EU-Japan free trade agreement was finalised, hailed by the free trade Commission as the biggest trade deal they have ever negotiated. agreement However, agreement was not reached on two key issues; data flows and investment was finalised, protection. A ‘place holder’ is included in the agreement with both parties agreeing to hailed by the continue negotiations on these issues over the next three years. Commission as It has been agreed to separate investment protection from the trade agreement. With the biggest trade regard to data flows, Ibec and European business partners have been critical of the ‘place holder’ approach and wrote to the Commission and Council urging them to come deal they have to an agreement on this issue. ever negotiated. The text must now undergo legal scrubbing and translation. It is hoped that the agreement will be ready for signature in mid-2018, at which time it can be presented to Council and Parliament for ratification, paving the way for provisional entry in to force in early 2019. The consolidated text of the agreement is available here; these texts might change during the process of legal scrubbing.

The Commission Australia and New Zealand submitted its The Commission submitted its proposal for a mandate for negotiations with Australia proposal for a and New Zealand in September. The Commission must wait for the Council to agree a mandate for mandate before it can begin official negotiations. negotiations with In October 2017, Ibec hosted a meeting with Alison Burrows, Australian lead negotiator, Australia and and H.E. Ambassador Richard Andrews at Ibec head offices. Irish investment in Australia New Zealand in includes aerospace, agribusiness, business services and pharmaceuticals, whereas Australian investors in Ireland are focused on business, financial and mining services, September. ICT, and manufacturing. Ibec also met with Martin Harvey, the lead negotiator for New Zealand. Currently, Irish exports to New Zealand include pharmaceutical products, machinery and medical devices and imports include wine, machinery and apples. Ibec will work to promote Irish business and economic interests in these upcoming negotiations through continued engagement with Irish and EU officials as well as with stakeholders from Australia and New Zealand.

26 Ibec Europe & Global Focus | Dec 2017 Global trade

Mercosur Meetings at the Talks between the EU and the Mercosur bloc continue. Meetings at the political level were held in Argentina on the sidelines of the WTO meeting, however, the parties were political level not able to finalise outstanding issues. were held in It has been reported that talks are at a stalemate over tariff cuts. The Mercosur bloc is Argentina on the looking for an improved offer on beef and ethanol from the EU whereas the EU is looking sidelines of the for an improved offer on wine and dairy from Mercosur. The negotiations are set to continue with the Commission, which had aimed to conclude before Christmas however WTO meeting, it remains to be seen as to whether this can be achieved. however, the Ibec will continue to promote the interests of Irish business at national and EU level. parties were not While Ibec supports an ambitious trade agenda by the European Commission, the able to finalise market access agreed in any final Mercosur agreement must not undermine the internal outstanding market. The Commission negotiators must ensure that the correct balance is achieved in the sequence of deals being negotiated in succession. This is particularly important for issues. key sensitive sectors of the European economy that will be severely impacted by Brexit.

Chile

The European Commission has released a questionnaire for business on the modernisation of the trade pillar of the EU-Chile Association Agreement. EU business is invited to comment on practical experience doing business in Chile in order to facilitate and orientate the negotiations of a modernised EU-Chile trade agreement. The questionnaire is available here.

Mexico

The European Commission is also negotiating the modernisation of the EU-Mexico Global Agreement. The Commission has published a number of textual proposes in areas such as: wine and spirits; rules of origin; digital trade; goods and technical barriers to trade. These texts are available here.

Ibec Europe & Global Focus | Dec 2017 27 Global trade

Ibec workshop: Trading with a non-EU country

On 13 November 2017, Ibec hosted a trade and export workshop with experts from Ibec hosted a the Revenue Commissioners and the Department of Agriculture, Food and the Marine trade and export (DAFM). The focus of the workshop was on trading with a non-EU country. workshop with Carol-Ann O’Keeffe, Assistant Principal in the Brexit unit of the Revenue Commissioners, experts from gave a comprehensive overview of the transit framework of the . Different rules apply when goods transit a non-EU country on the way to the EU market, for example, the Revenue goods travelling from Italy to Germany via Switzerland. The EU’s safety and security regime Commissioners was also discussed. Customs now plays a significant role in protecting citizens safety and and the security within EU borders. Ms. O’Keeffe also provided an overview of simplified customs procedures in the EU, such as authorised economic operator (AEO) status and benefits of Department being an authorised consignor or consignee. of Agriculture, Paul Savage, Principal and Head of EU/International Trade Division at DAFM, provided Food and the members with an overview of export and import processes for trade in agricultural products Marine. with non-EU countries. Mr. Savage also gave a high-level overview of the EU harmonised import conditions and operation of controls at border inspection posts. As the European Union seeks to expand market access to third country markets by concluding trade agreements and our nearest neighbour is preparing to become a third country, this workshop was a timely opportunity to review the existing framework for trading with a non-EU country as well as giving members the opportunity to ask questions.

New Zealand’s Chief Trade Negotiator, Australian Chief Trade Negotiator, Alison Burrows and H.E. Ambassador Richard Andrews, Martin Harvey, meets with Ibec’s Director Ambassador of Australia to Ireland, pictured with Ibec’s Director of EU & International of EU & International Affairs Pat Ivory, to Affairs, Pat Ivory prior to an exchange of views with Ibec member companies on the discuss opening of trade negotiations opening of formal trade negotiations between the EU and Australia. between the EU and New Zealand.

28 Ibec Europe & Global Focus | Dec 2017 Ibec Europe events and activities

Minister of State, Helen McEntee TD, addresses Ibec members at special roundtable session on the Future of Europe.

On 16 November, Minister of State for European Affairs, Helen McEntee TD, joined Ibec member companies and staff for a special debate on Irish business priorities for the future of Europe.

Minister of State for European Affairs, Helen McEntee TD, addresses Ibec member companies on the future of Europe.

During her address, Minister McEntee spoke about how the Brexit process has catapulted the debate on the future of the EU forward and how important it was for citizens and business groups in Ireland to engage in the debate at an early stage. The government’s focus on the EU going forward she said, would be in the area of jobs and growth and minimising barriers to trade and innovation. This would involve driving forward with completion of the single market and the digital single market, priorities shared and welcomed by Ibec.

Ibec’s Pat Ivory and Minister of State for European Affairs, Helen McEntee TD, at Ibec’s recent roundtable event on the future of Europe.

Ibec Europe & Global Focus | Dec 2017 29 Ibec Europe events and activities

When asked about Ireland’s allies in the EU system once the UK has withdrawn, Minister McEntee spoke about how the government is engaging more with its Nordic and Baltic counterparts, which have a similar size and, to a large extent, share our outlook and perspective on European affairs. Corporate taxation was also raised, with the Minister Corporate taxation confirming that this will remain an absolute redline issue for the Irish Government and must remain a national level competence. However, she did concede that Ireland was also raised, could not say “no” forever, and would likely have to make some concessions in return with the Minister for support, for example by engaging more in security, defence and foreign policy confirming that cooperation. This stance was mirrored in Ireland’s recent accession to the Permanent Structured Cooperation (PESCO) which aims to strengthen and deepen the EU’s this will remain an defence cooperation. absolute redline On Brexit and the future of EU-UK negotiations, Minister McEntee discussed issue for the Irish the government’s €300m contribution to a ‘Brexit fund’ under Budget 2018, but Government and acknowledged that there was still much uncertainty surrounding the progress of the talks and the future relationship between the EU and UK. She lamented the lack of must remain a timeline and clarity on the issue of a transition period and indicated that she understood national level how critical this was for business operators. On the future of the EU budget, the Minister competence. indicated that the Government would begin a debate on this early in the New Year and that as yet there is no official position on whether member states should contribute more to balance the loss of the UK’s contribution. Overall, it was an informative and engaging event at what was Minister McEntee’s first formal engagement with Ibec. We would like to thank members who took part in the roundtable and expressed their views on the future of Europe and EU policy-making. These contributions will feed into our own work on the future of Europe as we prepare to publish a campaign document early next year. In January, we will circulate the draft document for comment, and look forward to your input and contribution to this important debate. Ibec is committed to ensuring that the policy priorities of the Irish business community are enshrined in the future of the EU. Please continue to share your comments and ideas to [email protected]

Minister of State Helen McEntee TD with Pat Ivory, Ibec, Aingeal O’Donoghue, Department of Foreign Affairs and Trade and Barry O’Brien, IBM

30 Ibec Europe & Global Focus | Dec 2017 Ibec Europe events and activities

Ibec launches Ireland: A Model of Substance in Brussels

On Tuesday, 5 December, Ibec Europe hosted its annual festive event in Brussels welcoming a wide range of stakeholders to mark the launch of our latest flagship campaign – Ireland: A Model of Substance. We were pleased to welcome over 100 guests to hear Ibec’s President, Edel Creely, Ireland’s business and CEO, Danny McCoy, present the transformational story of Ireland, a country which model is based has accelerated from delayed convergence to one of the most globalised economies on decades of in the world. The event also saw us formally launch Ireland: A Model of Substance – a campaign designed to better communicate the fundamentals of the Irish business strategic economic model, champion its success and defend its international reputation. planning and Senior officials from the European Institutions, the Permanent Representation of Ireland transparent policy and other member states, Members of the European Parliament, business groups and implementation, a number of our member companies heard our special guest speaker, Brian Hayes including the very MEP, deliver an address welcoming Ibec’s campaign and highlighting how Ireland’s best international commitment to EU membership, globalisation, openness and innovation has driven our practice in taxation. exceptional global success. Ireland’s business model is based on decades of strategic economic planning and transparent policy implementation, including the very best international practice in taxation. Our campaign highlights the depth of the Irish business model and explains the importance of affording small open economies the flexibility to continue to compete on the world stage. It is imperative that the EU acknowledges and protects the depth and diversity of Ireland’s business model and endorses our success as a model for other peripheral economies.

[ Click to download ]

Ibec Europe & Global Focus | Dec 2017 31 Ibec Europe events and activities

Speaking to media outlets in advance of the launch event, Ibec’s Danny McCoy explained how the OECD’s corporate taxation reforms and dynamic changes in international economics have benefited Ireland as a highly globalised business and investment location. It is imperative Ireland now enjoys the modern-day equivalent of a resource economy with substantial intellectual capital and intangible assets at its core. Indeed, Ireland is proud to embody the that the EU six characterises of an economy of substance, as defined by the OCED – evolution, global acknowledges and footprint, full business lifecycle, world class economy, global hub and clusters. protects the depth As an important follow-up to the campaign’s launch, an Ibec delegation held discussions and diversity of with senior officials at the European Commission’s Directorate-General for Taxation Ireland’s business and Customs as well as bilateral engagements with the Heads of Cabinet of the model and endorses Commission’s Vice-President for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen; Commissioner for Competition, Margrethe Vestager; and Commissioner for our success as Agriculture and Rural Development, Phil Hogan. We also had the opportunity to present an example to the campaign to a visiting delegation of Councillors representing the four local other peripheral authority regions in greater Dublin. The week finished with us running a full-page advert economies. in the print edition of POLITICO Europe – one of the leading media outlets serving the EU policy community - once again profiling the main characteristics underpinning the Irish business model.

32 Ibec Europe & Global Focus | Dec 2017 Ibec Europe events and activities Ireland: A Model of Substance is supported by an evidence-based publication which includes important messages, a body of case studies, a helpful timeline, economic analysis, facts and league tables. It is not our campaign – it is your campaign. It is a call to action addressed to our member companies, stakeholders, colleagues and all supporters of Ireland and Irish business around the world. We encourage you to read and share Ireland’s story, watch the clever video, equip yourself with the facts and learn more about our messages on the campaign’s dedicated web portal at www.ibec.ie/irishsubstance. You can also voice your support on Twitter @ ibec_irl using the campaign hashtag #irishsubstance

Ibec Europe & Global Focus | Dec 2017 33

Ibec Europe events and activities Ibec travels to Estonia to participate in BusinessEurope’s Council of Presidents

At the end of November, Ibec travelled to Estonia to participate in BusinessEurope’s This biannual Council of Presidents summit. This biannual gathering of the Presidents of Europe’s gathering of national business representations is BusinessEurope’s highest policy formulation the Presidents grouping and is hosted by the local federation of the country holding the Presidency of of Europe’s the Council of the EU – in this case, our friends at the Estonian Employers’ Confederation. national business Ibec’s newly appointed President, Edel Creely, made the trip to snowy Tallinn to engage representations is in discussions on the future of the EU’s role in global trade, Brexit and next steps in the EU-UK negotiation process. As part of a series of national updates, Edel also presented BusinessEurope’s the latest economic trends, employment statistics and political developments in Ireland. highest policy The event featured a address on innovation and digital policy by the President of Estonia, formulation Kersti Kaljulaid, and delegates were treated to a guided tour of the e-Estonia Showroom, grouping and is the Estonian Government’s flagship project which allows visitors an opportunity to hosted by the local engage with the country’s world-leading e-Government and e-Residency systems as federation of the well as a chance to interact with the latest inventions by Estonia’s innovative community country holding the of digital and tech entrepreneurs. Presidency of the In tandem with Bulgaria’s inaugural Presidency of the Council of the EU, Ibec looks forward to participating in the next Council of Presidents meeting, scheduled to take Council of the EU. place in Sofia in May 2018. As its only Irish member, Ibec works closely with BusinessEurope to champion the role of business in European society and to shape competitive and pro-growth conditions for enterprise in Ireland across the EU. For more information about BusinessEurope, its activities and campaigns, and visit the organisation online via this link.

Ibec Europe & Global Focus | Dec 2017 35 Ibec Europe publishes Ibec Europe events latest version of its and activities popular EU Legislative Tracker

Ibec Europe’s EU Ibec Europe’s EU Legislative Tracker identifies and monitors several key European legislative Legislative Tracker consultations and proposals of greatest interest to Irish business. The paper also lists the identifies and competent institution, committee or unit responsible for each file as well as providing links to monitors several the latest supporting documents, resources and further material, where available. key European While not intended to be read as an exhaustive list, our EU Legislative Tracker provides legislative a useful guide and overview of the major business-relevant proposals in addition to a helpful glossary of EU terminology. consultations and proposals of The latest version can now be accessed via via this link. Member companies are invited to contact the Ibec Europe team if you have a query about a specific file or if you require greatest interest to us to monitor a specific proposal on your behalf. Irish business. Ibec – proudly representing Irish business at EU and global level

Ibec’s EU & International Affairs team is at your service for advice, support and guidance on EU and international business policy and outreach. Our direct contact details can be easily accessed via this link. Should you wish to join the invite list in advance of our future events in Brussels, please forward your details to [email protected]

Ibec’s EU & International Affairs team wishes you a happy festive season and a successful New Year. [L-R: Doreen Burke, Eoghan Kinirons, Andra Bodoni, Pat Ivory, Kathryn O’Donovan, Shane Lyster]

36 Ibec Europe & Global Focus | Dec 2017 Ibec HQ Limerick Galway 84-86 Lower Baggot Street Knockrea House Gardner House, Bank Place Ross House Dublin 2 Douglas Road Charlotte Quay Victoria Place +353 1 605 1500 Cork Limerick Galway [email protected] +353 21 429 5511 +353 61 410 411 +353 91 561 109 www.ibec.ie [email protected] [email protected] [email protected] www.ibec.ie/cork www.ibec.ie/midwest www.ibec.ie/west

Waterford Donegal Ibec Europe Waterford Business Park Pier One Avenue de Cortenbergh, 89 Cork Road Quay Street 1000 Brussels Waterford Donegal Town +32 2 512 3333 +353 51 331 260 +353 74 972 2474 [email protected] [email protected] [email protected] www.ibec.ie/europe www.ibec.ie/southeast www.ibec.ie/northwest

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